Filing for Chapter 7 bankruptcy can help people that are buried by debt get back on track. In order to file, you must meet certain requirements that Attorney J. Thomas Black can discuss with you, such as the "means test."

If you are eligible to file chapter 7 in Texas, most people lose no property, only their debts. But if you have "non-exempt" property such as lake lots, stock portfolios or rental property, you will need to surrender all non-exempt property to a bankruptcy trustee. And most types of debts are "discharged" or cancelled —such as credit cards, personal loans, and leases.

Houston, Texas businesses that operate as corporations, partnerships or LLC's and that are in financial trouble and need to file bankruptcy really only have two options: to liquidate or go out of business in chapter 7 bankruptcy, or to attempt to reorganize and stay in business by filing chapter 11 bankruptcy.

People, whether operating a business as a sole proprietorship or not, can also file chapter 11, but it is not usual. Most individuals file chapter 7 or chapter 13, although if they have an very large amount of debt and want to reorganize their finances, chapter 11 may be their only choice.

In the case of a business failure, where the business is not profitable and when chapter 11 is not feasible, chapter 7 is the logical choice. In chapter 7 a petition is filed with the bankruptcy court and an "automatic stay" or court order stops creditor collection actions. A liquidation trustee is appointed to gather and reduce to cash all the business assets. The resulting money is distributed to creditors as far as the money will go, according to a priority hierarchy contained in the Bankruptcy Code.

In chapter 7 cases concerning "entities" such as corporations and LLC's, there is no discharge of debts. The entity is eventually disssolved and is no more. This is unlike chapter 11 where if the chapter 11 plan is confirmed or approved by the court, it is a new contract, a new bargain with creditors, and it does receive a discharge of debts to the extent that the debts are not to be paid through the chapter 11 plan. This is also unlike chapter 7 cases involving individuals, that do receive a discharge of debts.

A Chapter 13 bankruptcy plan can organize your debt into manageable regular payments. Because you need to commit to how much you will pay on a biweekly or monthly basis, Chapter 13 is a good option for people with a regular source of income.

Even if you have filed for Chapter 7, 11 or 12 bankruptcy, you are still eligible for Chapter 13. In fact, if you file for Chapter 7 and certain debts are not canceled, they can be rolled in to your Chapter 13 payment plan later.

Debt relief in Texas is possible with the assistance of an experienced lawyer. By following a three step process of challenging inaccurate information, negotiating debt and building good credit, Attorney J. Thomas Black will help settle your debt and get your life back on track.

When Benjamin Franklin said that nothing is certain except death and taxes, he was not kidding. If you do not pay your taxes, the IRS has the power to seize nearly everything you own to pay that debt. When your IRS debts become unmanageable, it's time to contact an attorney that understands IRS problems like J. Thomas Black. There are options for payment plans, settling by paying a smaller lump sum or for filing bankruptcy.

After a bankruptcy or after your debts are resolved, people want to restore their credit so that they can obtain the things that they want, and at a reasonable credit cost. Because of bad credit, many people cannot buy a home, or can only buy a car or truck by paying exorbitant interest rates of 18% or even more. This costs you 1000's of extra dollars over the term of your loan!

Having excellent credit can save you a large amount of money, enough to live a better lifestyle, or enough to start seriously saving for retirement or your other goals.

After we do a "credit clean-up" for you, we provide you with a 14 step educational program through www.720creditscore.com, which guarantees that within 12-24 months of your discharge in bankruptcy, you can have a 720 or higher credit score. And we currently provide this program to you at NO CHARGE if you hire us for your bankruptcy case.

Student loans are one of the most common and most crippling forms of debt in the nation. As the cost of tuition increases each year, more and more students are graduating with tens of thousands of dollars in debt that they don't know how to repay.

If your student loan payments have gotten out of hand, consult a Houston student loan debt lawyer to learn about your options to decrease or in some cases, completely eliminate your repayment obligation.

Going through a family law case, either an uncontested divorce, or a contested divorce, especially involving a child custody dispute, can be heart - wrenching. If you have a substantial amount of property, dividing it among the spouses in a community property state like Texas can be very complicated. Our law firm handles divorce and child custody cases on a regular basis in Harris and Fort Bend counties, Texas, and we are ready and willing to help you get through your family law case as quickly and painlessly as possible.

Too Much Debt? Get Rid of It & Get Your Life Back With the Help of a Houston Bankruptcy Attorney

Does this sound like your life recently?

You were raised to believe that you should own your own home, but after having some hard times, the mortgage company turns down your loan modification and you find yourself in danger of losing your house to foreclosure.

You got two months behind on your car or truck payments, now the finance company wants all the money and you don’t have it. They are threatening to pick up the vehicle if you don’t pay it all now.

You lose your job or overtime, and you have to use credit cards to make ends meet. Now they are “maxed out” and you have no way to pay your bills.

You were always told about the benefits of getting an education, but now you are unemployed or underemployed and in default on your student loans. You can’t pay them back as fast as the debt collectors demand and they are calling constantly.

As a last resort you've taken out payday loans, now you are drowning in debt and they call every day.

Getting buried in debt is an all-too-common occurrence for many people in Texas. Attorney J. Thomas Black wants to help you dig yourself out. Mr. Black is Board Certified in Consumer Bankruptcy Law by the Texas Board of Legal Specialization.

He will listen to you and show you the options that you have to choose from in your situation to either discharge, settle, or reorganize your debts.

Debt Comes in Many Forms

Whether you are in the beginning stages of realizing that your debts are getting to be too much, or you're at the end of your rope, sick of harassing calls from collection agencies, and ready to get a bankruptcy case started, Mr. Black can help. With over 30 years of experience, he specializes in many different forms of debt troubles and ways to get it under control:

Don’t Be Afraid of Bankruptcy in Texas

The idea of filing for bankruptcy terrifies a lot of people because they think it means they are going to lose everything; the reality is quite the opposite. If you file Chapter 7 bankruptcy, bankruptcy law allows you to keep your exempt property, which—for most people facing the prospect of filing bankruptcy in Texas—is most or all of their property. You still must pay any valid liens on the property.

With Chapter 13 bankruptcy, a debtor proposes a plan to repay creditors either partially or in full over a three- to five-year period. During that time, the debtor can make up overdue payments on her home, “modify” car and truck loans to make them more affordable, pay or “discharge” or cancel delinquent IRS debt and pay into the plan the equivalent value of any assets not covered by exemptions.

Chapter 13 is best suited for someone with a regular source of income because it requires monthly or biweekly payments. Mr. Black will be able to let you know if this is a good choice for you and show you how a Chapter 13 plan would work in your particular circumstances during your first free consultation with him. Not yet ready for a consultation? Request some of Mr. Black’s free information.

Your Fresh Start Begins Now

Congratulations! You have already started doing research about getting your debts under control, and that is a huge first step. The Law of Office of J. Thomas Black will take you from that first step forward toward financial freedom, or at least toward getting control of your debt problems.

Mr. Black does not just “dabble” in bankruptcy law; it is his life’s work and his area of expertise. Along with his board certification, Mr. Black is an author and speaker on bankruptcy issues, and he is very active in the bankruptcy community. His extensive qualifications can be found on his biographical page.

During your free first consultation, we will listen to your financial concerns and review your options with you. Once you choose an option and decide to move forward, Mr. Black and his staff will be there to put those plans into action and start proceedings that will get your life back on the right track.

When it comes to credit card debt, lawsuits, repossession, foreclosure, student loan and IRS collection problems, you need competent and experienced legal help and advice. Contact Mr. Black’s office to arrange your free consultation with him. You can schedule it on this website, or by calling his Houston number 713-772-8037 or toll free at 888-707-1233.

We are a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Filing for Chapter 7 bankruptcy can help people that are buried by debt get back on track. In order to file, you must meet certain requirements that Attorney J. Thomas Black can discuss with you, such as the "means test."

If you are eligible to file chapter 7 in Texas, most people lose no property, only their debts. But if you have "non-exempt" property such as lake lots, stock portfolios or rental property, you will need to surrender all non-exempt property to a bankruptcy trustee. And most types of debts are "discharged" or cancelled —such as credit cards, personal loans, and leases.

Houston, Texas businesses that operate as corporations, partnerships or LLC's and that are in financial trouble and need to file bankruptcy really only have two options: to liquidate or go out of business in chapter 7 bankruptcy, or to attempt to reorganize and stay in business by filing chapter 11 bankruptcy.

People, whether operating a business as a sole proprietorship or not, can also file chapter 11, but it is not usual. Most individuals file chapter 7 or chapter 13, although if they have an very large amount of debt and want to reorganize their finances, chapter 11 may be their only choice.

In the case of a business failure, where the business is not profitable and when chapter 11 is not feasible, chapter 7 is the logical choice. In chapter 7 a petition is filed with the bankruptcy court and an "automatic stay" or court order stops creditor collection actions. A liquidation trustee is appointed to gather and reduce to cash all the business assets. The resulting money is distributed to creditors as far as the money will go, according to a priority hierarchy contained in the Bankruptcy Code.

In chapter 7 cases concerning "entities" such as corporations and LLC's, there is no discharge of debts. The entity is eventually disssolved and is no more. This is unlike chapter 11 where if the chapter 11 plan is confirmed or approved by the court, it is a new contract, a new bargain with creditors, and it does receive a discharge of debts to the extent that the debts are not to be paid through the chapter 11 plan. This is also unlike chapter 7 cases involving individuals, that do receive a discharge of debts.

A Chapter 13 bankruptcy plan can organize your debt into manageable regular payments. Because you need to commit to how much you will pay on a biweekly or monthly basis, Chapter 13 is a good option for people with a regular source of income.

Even if you have filed for Chapter 7, 11 or 12 bankruptcy, you are still eligible for Chapter 13. In fact, if you file for Chapter 7 and certain debts are not canceled, they can be rolled in to your Chapter 13 payment plan later.

Debt relief in Texas is possible with the assistance of an experienced lawyer. By following a three step process of challenging inaccurate information, negotiating debt and building good credit, Attorney J. Thomas Black will help settle your debt and get your life back on track.

When Benjamin Franklin said that nothing is certain except death and taxes, he was not kidding. If you do not pay your taxes, the IRS has the power to seize nearly everything you own to pay that debt. When your IRS debts become unmanageable, it's time to contact an attorney that understands IRS problems like J. Thomas Black. There are options for payment plans, settling by paying a smaller lump sum or for filing bankruptcy.

After a bankruptcy or after your debts are resolved, people want to restore their credit so that they can obtain the things that they want, and at a reasonable credit cost. Because of bad credit, many people cannot buy a home, or can only buy a car or truck by paying exorbitant interest rates of 18% or even more. This costs you 1000's of extra dollars over the term of your loan!

Having excellent credit can save you a large amount of money, enough to live a better lifestyle, or enough to start seriously saving for retirement or your other goals.

After we do a "credit clean-up" for you, we provide you with a 14 step educational program through www.720creditscore.com, which guarantees that within 12-24 months of your discharge in bankruptcy, you can have a 720 or higher credit score. And we currently provide this program to you at NO CHARGE if you hire us for your bankruptcy case.

Student loans are one of the most common and most crippling forms of debt in the nation. As the cost of tuition increases each year, more and more students are graduating with tens of thousands of dollars in debt that they don't know how to repay.

If your student loan payments have gotten out of hand, consult a Houston student loan debt lawyer to learn about your options to decrease or in some cases, completely eliminate your repayment obligation.

Going through a family law case, either an uncontested divorce, or a contested divorce, especially involving a child custody dispute, can be heart - wrenching. If you have a substantial amount of property, dividing it among the spouses in a community property state like Texas can be very complicated. Our law firm handles divorce and child custody cases on a regular basis in Harris and Fort Bend counties, Texas, and we are ready and willing to help you get through your family law case as quickly and painlessly as possible.

Free Special Report- How To Deal With Texas Debt Collection Lawsuits!

If you've been sued and have a Texas debt collection lawsuit pending against you, you have a very limited amount of time before a "Default Judgment" may be rendered against you. Don't wait until it is too late.

Request Your Free Book! - "Get Out Of Debt With A Texas Bankruptcy"

Free Special Report: I.R.S. Problems? - 5 Ways to Get the I.R.S Off Your Back!

If you have serious IRS problems and are facing a wage levy, a tax lien, or if a Revenue Officer is contacting you about payment, you need this information. Request our free Special Report - I.R.S. Problems? - 5 Ways to Get the I.R.S Off Your Back!

Glossary of Common Bankruptcy Terms - Bankruptcy Terms You Need to Know

Meet Mr. Black

J Thomas Black,Attorney at Law

J. Thomas Black graduated from South Texas College of Law in Houston in 1982, and started his own firm in 1986. Mr. Black has always specialized in consumer and small business bankruptcy law, tax collection defense, debt negotiation and related matters. Mr. Black's firm currently consists of Mr. Black, an associate attorney, three full time legal assistants, and other support staff.